Barney Allison is a leading public finance expert who is nationally recognized for his specialized experience in forming and financing public-private partnerships (P3) and other transactions involving private financing to develop infrastructure projects. With nearly three decades of experience in virtually all areas of public finance, he is sought after for his unique expertise with the specialized finance issues that arise in transactions, including the use of public and private debt, private equity and federal credit assistance, particularly the TIFIA and Private Activity Bond programs.
Mr. Allison has acted as bond counsel, underwriter's counsel, disclosure counsel, issuer's counsel, and special developer's counsel for public capital improvement projects involving different revenue and funding sources with an emphasis on the financing of transportation facilities and equipment. He has financed a wide range of projects, including: transit systems, light rail and commuter rail facilities, tollroads and highways, and parking facilities.
Indiana Finance Authority - Ohio River Bridges Project, East End Crossing. Key member of the Nossaman team advising on the P3 procurement to design, build, finance, operate, and maintain the East End Crossing that will connect Kentucky to Indiana. Mr. Allison has been primarily responsible for drafting the public-private agreement and handling TIFIA and PABs-related matters. The East End Crossing will be procured and developed as an availability payment concession. The $800 million (capital cost) project includes: a new six lane East End Bridge that crosses the Ohio River and approaches on both sides of the river. Services include assisting with structuring the procurement, drafting and finalizing the RFP documents, developing the evaluation process and negotiating the public-private agreement. Commercial close was achieved on December 27, 2012 and financial close occurred on March 28, 2013. Mr. Allison continues to be involved in the project through the contract administration phase.
California Department of Transportation – Presidio Parkway Project. Leader of the legal team that advised on the $1.1 billion Presidio Parkway Project, the third highway project to be developed through an availability payment P3 in the United States and the first procurement initiated under California's 2009 P3 law. The deal reached financial close on June 14, 2012. Roles included preparing and advising on the procurement and contract documents. Also advised on contract administration and financing aspects of the project, coordinated activities with the sponsor and other consultants, and advised on financing and contract matters.
Texas Department of Transportation – TIFIA Loan Program. Lead advisor on applications for federal pre-approval of TIFIA loans and PABs to finance its P3 concession program. Negotiated terms and conditions with the Federal Highway Administration and TIFIA office and assisted the team drafting terms related to financial issues for TxDOT's P3 procurement and contract documents. Assisted Texas Turnpike Authority with a $916.8 million loan from the United States Department of Transportation under the TIFIA Program for the $3.9 billion Central Texas Turnpike Project, a 56-mile toll road system located outside of Austin. Advised on interpretation of statutory and regulatory guidelines, framing the credit instrument to match the CTTP's larger plan of finance, anticipating term sheet and loan document issues, and actively participated in presentations and negotiations.
Texas Department of Transportation – SH 161 Toll Road Project. Advised on financing for the 11.5-mile SH 161 Toll Road Project in western Dallas County. Assisted on the negotiation and drafting of the toll equity loan agreement with North Texas Tollway Authority, which under Texas law allows TxDOT to advance state funds to cover the costs of design, construction, operation, maintenance, and certain other eligible project costs. Enabled the projects to receive $1.1 billion in debt financing and an "AA" credit rating, a first for a "greenfield" toll road project in the United States. Advised on the assignment of NTTA's rights under the design-build contract as security and counseled TxDOT in connection with its inter-creditor arrangement with TIFIA and the initial project agreement between NTTA and TxDOT.
Sonnenblick/Del Rio Asset Leasing Corp. – Construction and Operation of Public Buildings. Advisor to private developer in connection with financing public buildings that are constructed under design-build agreements and operated by a private entity. Acted as bond counsel in connection with the tax-exempt financing of West Los Angeles County Department of Public Social Services, built under a design-build contract and operated by a private entity.
San Joaquin Regional Rail Commission – Altamont Commuter Express Commuter Rail Project. Bond and disclosure counsel in connection with the financing of a $65 million equipment maintenance and layover facility located in Stockton, Calif., to serve the Alameda Corridor Express commuter rail service between Stockton and San Jose. A portion of the financing was issued as "Economic Recovery Zone Build America Bonds," providing a 45 percent interest subsidy payable by the U.S. Treasury. ACE was created by a joint powers agency formed by the County of San Joaquin and several cities within the county.
Orange County Transportation Authority – SR 91 Express Lanes Project. Special counsel in connection with the Authority's acquisition of the $1.3 billion SR 91 Express Lanes Project from a private developer. Served as bond counsel in connection with the issuance of tax exempt toll road revenue refunding bonds to refinance taxable bonds. The project is the first all-electronic toll road to be constructed without toll plazas in the United States.